81–82 of 82 posts
For something as fungible as credit card transactions, it's hard to understand how a "brand" could be truly valuable. (Or is the grocery store cashier secretly really impressed when I produce my Amex Blue?)
For something as fungible as credit card transactions, it's hard to understand how a "brand" could be truly valuable. (Or is the grocery store cashier secretly really impressed when I produce my Amex Blue?)
That's the irony of brands in the modern era. In a commodified market, where all services or products are virtually interchangeable, you either compete on price -- a race to the bottom with ever-declining margins -- or you move upmarket by competing on prestige and perception. Amex's prestige hasn't fundamentally changed how valuable the card is to hold, but it's signed up customers in the first place, and it's signe…